During his appearance on Market Domination Overtime with Julie Hyman and Josh Lipton, Robbie Mitchnick provided insights about Bitcoin and the crypto market as global head of digital assets at BlackRock.
Institutional investors consider this Bitcoin market dip as a chance instead of considering it a failure.
Robbie Mitchnick noted that long-term Bitcoin holders believe the economic conditions create an “irrational sell-off” of the short-term outlook but remain positive about the market direction.
According to the Blackrock analyst, major investors who cashed out from Bitcoin when it reached the “hundreds” price range are currently returning to buy at reduced prices.
Robbie Mitchnick on Market Domination Overtime | Source: X
Robbie Mitchnick also stressed the advantage of a recession to Bitcoin and other cryptos saying,
“They certainly don’t look at economic headwinds and say that’s bad for Bitcoin. They say that’s probably a catalyst for Bitcoin.”
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